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Search Results 0 to 27 of about 28 (some duplicates have been removed)
debt ceiling, which will come into play. so we will be seeing a lot of activity in the next few months, debates about people criticize the government, about the size of the deficit, and it a lot of back and forth over these three issues. without going into all the different ramifications, i want to say one word about the debt ceiling, which is not everybody understands what the debt ceiling is about. the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling
escalates the fight on the w economy. is the debt ceiling negotiable? your thoughts? send us a tweet or post your comment on facebook. you can also send us an e-mail. president obama held his last official news conference of the first term yesterday in the east room of the white house. here's what he had to say on the debt ceiling debate. [video clip] >> republicans and congress have two choices. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect ransomed in exchange for not crashing the american economy. the financial well-being of the american people well-being is not a leverage to be used. the full faith and credit of the united states is not a bargaining chip. they had better choose quickly, because time is running short. the last time republicans in congress even flirted with this idea, r. triple-a credit rating was downgraded for the first time in our mystery, our businesses created the few jobs in any month in nearly the past three years, and the whole fiasco added to the deficit. ho
to use the he 14th amendment to bypass congress and go over the debt ceiling. here is what nancy pelosi said about it, and i'm quoting directly, i would use the 14th amendment. which said that the united states will always be paying. i would just go do it. the judge weighs in on the 14th amendment later this hour and coming up right after the opening bell, we'll have art laffer with us, former reagan economic advisor. what happens if we ignore the debt ceiling? i've got big news and a major hit for apple's iphone. weak demand forces the company to cut orders. samsung is the new kid on the block with the galaxy. find out how apple opens after the upcoming break and congress says that climate change is it here and it's our fault. is a carbon tax coming? yeah, art laffer on that, too, apple may be below 500 bucks a share, we'll tell you. we've got it all. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a ful
the u.s. economy and the fed's role in monetary policy. he called on congress to raise the debt ceiling in the release of u.s. can pay its bills. he spoke at the gerald ford school of public policy. >> thank you very much. it is also my great pleasure to welcome all of you here today. on behalf of the gerald r. ford school of public policy, the university of michigan is extremely honored to welcome the hon. ben bernanke, chairman of the board of governors of the federal reserve system. today's conversation is the latest in our series of distinguished lectures, policy talks at the fort school. we're so pleased that region white can introduce to the events and we're also very president marye sue: here today as well as -- we also have several of the university's executive officers and beans. i would like to welcome all of them and thank them for joining us today. it is an honor and truly personal pleasure to introduce our next guest. the fed's charges to provide a healthy economy. this is a complex and critically important mission and it makes the person at its helm one of if not the most
's cabinet pick. immigration and the debt ceiling while vice president joe biden finalizes his recommendation on gun control. tracie potts is in washington for us. it's a busy week ahead. >> reporter: absolutely. as the rehearsals are under way for this new ration the senate turns its focus to these confirmation hearings. chuck hagel raising a lot of questions with democrats and republicans, no date set for those hearings yet. president obama, those confident that he will be confirmed. meantime the debt and the debt ceiling that we're about to hit again in february, the house is back in session today. they got to address that. republicans pushing for spending cuts at this time could include social security and today vice president biden sits down with cabinet members and members of congress to finalize his recommendation for gown control. we'll present them to the president tomorrow likely to include universal background checks. >> no sleep for you over the next week, right? thank you so much. tracie potts in washington, d.c. >>> former secretary of state colin powell is speaking out on nbc's
, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the president gave a harsh lecture to republicans about the need to raise the deb
ceiling, which is that not everybody understand what the debt ceiling is about. the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you c
.7%. >>> urging for actions, president obama and tim geithner say congress must raise the debt ceiling or cause irreparable damage to the u.s. economy. >>> and jump t to the top of the ftse 100 after third quarter revenue beat the forecast, burberry had earnings higher than expected. >>> all right. sorted out my mike issues. "worldwide exchange" is slightly different today because we're analyzing the first german gdp numbers. >> and i come to the u.s. where it's all annualized and we stick to the european data and it's quarter on quarter. given the context, we're still working through what all that means. >> exports in november, down 94.1 billion is where we essentially went. 98.4 billion was the october numbers. so exports in november driving down. and that gdp number is worth pulling out. exports for the year, up 4.1%. as far as production is concerned, it was up 2% in november. but the forecast were for it to rise up 1%. it was a very weak october, as well. it was this production and that production number. when that came out, it essentially made people put a pretty fourth quarter in the who
the debt ceiling. >> dumping bonds, diving in stocks, records amounts of money flowing into stocks and etfs last week. is that a trend? that's ahead. >> a number you don't here with taxes, 0, but that's what the louisiana governor is proposing, a zero corporate tax rate and income personal tax rate. we have the man who crafted the plan here with more details. interesting. >> that fits me, but how does that get offset? >> there you did. there you go. >> okay. updated on the markets like we do every 15 minutes. nicole, we have bank earnings out this week. how are broader markets doing? >> a lot going on. friday, the dow went over the unchanged line 50 times, today, no different, back and forth action. the dow is gaining five points, but the nasdaq and s&p both pulling back some, and, of course, the nasdaq weighed down by apple, and let's get financials up for you. today is a weak day of earnings, and names in focus like goldman, bank of america, citi group, and morgan stanley. the group ran up over 26% in the last year, and the estimates have come down considerably from sector to sector so th
coming up is the so-called debt ceiling -- something most americans hadn't even heard of before two years ago. i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops, or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear material wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go h
, is unforgivable is the way to make these policies. second, you have the debt ceiling. it is a marketing tool the country hostage. we know there's going to be a fighter for the debt ceiling. in the past that feeling with a speed bump that reminded folks who are borrowing too much and needed to make changes. it could be a useful reminder. not because of sars are people really worry about the fate of the u.s. government and its economic damage, which is what we saw last time. the third piece, the fact government spending is going to expire in the triple witching hour of these issues is if this will close and is that going to force action of the hardest pieces still remaining for the fact that they still for all intents and purposes, it's good we didn't go to the fiscal cliff, good release revenue, but we basically did what we always do, which is punted the hard choices and try to declare bipartisan victory. it wasn't there. the question as to make make these next moments were set to getting us to really take on policies. and this is part of your question that will do it the necessary savings th
, president obama told reporters the u.s. can't afford a drawn-out debate over raising the debt ceiling, which could reach its lmit in mid february. "raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel reponded by saying, "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it." traders will get their first opportunity to react to comments at the market close yesterday by federal reserve chairman ben bernanke. among the highlights, the fed chair says, the federal government is not out of ammunition, the fed's bond-buying program is not likely to lead to higher inflation, and the fed sees positive signs in
we did have the president speaking today making a case for the debt ceiling, but didn't really mention anything that it had to do with up coming spending in 2013. i imagine that was a bit of a point of contention for traders down there today. >> you know, what it really is is we see the story before -- we've seen the story before, now act one of a brand new debt ceiling game. the president didn't wait for the inauguration. he came out and of course what he's going to say is his past bills released the money, that's what should be done. he didn't answer a question in the press conference as to whether or not he has authority to just order that money released which was interesting. but the republicans, they told you on the revenue part of this bill what they were going to do is use the debt ceiling along with the sequester funds to try to reach a compromise where there's more spending. where there's more cuts in spending is what i'm trying to say. so what i thought today was a shot across the bow, i was very surprised the republicans didn't hold another conference to immediately
to see a default as we get closer to the debt ceiling deadline. will this put a limit on what stocks do over the next few weeks? >> i read this weekend another piece that says the social security checks aren't going to come out. they're going to come out, okay? we can go down this path and scare people. but i'm not going there. i remember when i was going to the balk last year and we had the debt ceiling. a woman said, i'm not going to get my social security check. and i said you will. she said, no, i'm not. i feel like, it's incumbent on people to say, look, maybe there's a week -- but when you say social security's not going to come out, we are not a third world -- an emerging third world nation, whatever is political to say. we can really scare people here. our job should not be to scare people. but you can scare people very easily. >> right. on the other side people are citing mutual funds, we talked about this on friday, and thursday of last week as a positive. perhaps you shouldn't, given there were so many inflows to bond funds. the s&p was up nicely last year and the year prior,
debt ceiling which will come into play so we will be seeing a lot of activity the next few months about the appropriate size of the government and about the size of the deficit and a lot of back-and-forth over these issues. without going into all of the different ramifications i want to say a word about the debt ceiling which is not everybody understands what it's about. the debt ceiling which congress has to do periodically as gives the government money to pay its existing bills. it doesn't create new spending so it's like a family trying to improve its credit rating not the most effective way to improve the credit rating and was the slow solution to the debt ceiling in august of 2011 that of the u.s. downgraded last time brough so it's very important that congress take the necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. estimate the number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mentioned is certainly went part way that leaves a number of issues still on th
again. another recession if congress balks at raising the debt ceiling. that's right. those two words, we're all using them again. debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to be much,
to fitch warning it may downgrade credit, the american credit if we -- if the debt ceiling isn't raised. it's so important t? that we get this debt situation under control, and i think that once again, when you consider what we're doing to our future generations, you know, our children and our grandchildren, currently who have $53,000 debt upon them. we're eroding their possibilities and their opportunities in this great society. so i think we have to have up in washington d.c., the seriousness, to look at the true problem, which is a spending problem. look at mandatory spending programs and we have to stop the exorbitant amount of spending and we have to say, finally, we're going to stop this debt and we're going to get serious, and i think that fitch is very appropriate in saying that if they don't see a curtailing of the spending, that they're going to downgrade us. >> greta: we're going to keep our eye on this, because certainly all eyes are on this debt ceiling these days in washington. stay with us, so congressman, we have much more to talk to you after the break, but first, there is
that is a laggard. hewlett-packard, american express, a few of the names coming under the pressure. the debt ceiling remains in focus. it is earning season. let's take a look at facebook. it is up about three quarters of 1%. it certainly has gained over the last half hour. we are getting closer and closer to the launch time. come and see what we are building. there is speculation that remains. the anticipation remains. dagen: trying to strategize on how to rein in government spending. connell: rich edson with all the details. rich: a very busy legislative day. they are dealing with this handy appropriation bill. republicans are discussing a number of different options. there is a major house republicans of that. their annual retreat takes place on wednesday. >> when does this budget balance? here is when the budget gets to balance if we adhere to these cuts. rich: republicans trying to figure out their opening position on the debt ceiling. democrats and the white house have already come out with theirs. president obama saying that he is not negotiating it. he says he is willing to talk about deficit
in congress over raising the debt ceiling. the fed coming to the same conclusion that the idea behind the platinum coin was that the treasury would mint a core or coins for precious metal and the value would be based at $1 trillion. the united states is expected to reach its debt limit of $16.4 million last month. >> how many -- >> and it would have created sh -- there's the idea of used the 14th amendment to say that you have to pay your debts. but it would have created huge problems for the democrats as a way of just saying, you can make up any kind of mope. >> no. but a lot of people said if one side is going to play hard ball,ing. >> they would have been tide up in reports forever. >> there is a provision for it. easily done. i wanted one. that's a lottery you want to win, that coin. >> a printing press, right? >> a trillion dollar coin. >> i could never spend that much money. it would be impossible. >> ever see brewster's manage? >> i know of it. >> i don't remember. i remember -- >> why you wouldn't keep it. >> richard pryor was in it. >> very difficult. >> the debt ceiling is s
deadline coming up as the so-called debt ceiling. something most americans have not even heard of before two years ago. i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that are ready been racked up. we need to pay them. i am willing to compromise and find a common ground on how to reduce our deficit america cannot avoid another debate with this progress about whether or not they should pay the bills that they have already racked up. if congressional republicans refused to pay america's bills on time, so security checks and veterans' benefits will be delayed. we may not be able to pay our troops or on our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down those of nuclear materials would not get their paychecks. the rest of the world would ask if the united states of america is in fact a stay at bat. market to go haywire and
to duke it out over the debt ceiling, one said we should get rid of it all together? does ben bernanke have a point? >> the nra releases a new target practice ap for kids as young as 4. >> we have a packed show for you this morning. mike thompson joins us and greg walden is our guest. the congressman and newly crowned miss america, mallory hagen will be joining us. tuesday, january 15th and starting point begins right now. . >>> welcome to starting point. after years and years of lying to the world, lance armstrong is finally coming clean. there report he's confessed to oprah winfrey and he used drugs to win his titles. sources say he is in talks to have some of the millions he was paid by the postal service to sponsor the tour. cnn's ed is live in austin, texas. let's talk about what he told oprah and what the next steps are for lance armstrong. >> the big question will be to what extent did he confess and how much detail is he going to offer? also from the standpoint of how did he offer it and what was the body language there? lance armstrong is an athlete who is vehement in his deni
between now and the time we deal with the debt ceiling, that we may very well be able to meet the goal which we set out to do, which is to have roughly a $4 trillion cut over ten years, and in the long-term deficit and put us on that path. but i didn't come here to talk about any of those important subjects today because, as important as they all are, today we have a more urgent and immediate call, and that is how to deal with the epidemic of gun violence in america. you all know the statistics very well so i'm not going to repeat them. on that score, i might add, oui an incredible debt of gratitude to many of you at the head table as well as those of you in the room. i know we don't have absolutely unanimity in this ballroom, nor do we in anyway ballroom, but we all know, everyone acknowledges, we have to do something. we have to act. i hope we're all agreed that there's a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the ones we witnessed in newton 34 days ago, cannot continue to be tolerated. that tragedy in all my yea
look at options the treasury department has to avoid hitting the debt ceiling and later, the mission and scope of the bureau of alcohol, tobacco, firearms, and explosives. "washington journal" is next. ♪ host: good morning, it is monday, january 14, 2014. the house returns to capitol hill today for an abbreviated worth -- an abbreviated work week. it will include spending and though relief in the wake of hurricane sandy. work continues on the obama administration's response in the wake of the mass shooting in connecticut. that is where we want to be in with you this morning. what fox you have on the roll of film, television, and video games in this ongoing debate? what responsibility, if any, to those groups have to change or put restrictions on their products? give us a call on the democratic line. for democrats, 202-585-3880. for republicans, 202-585-3881. for independents, 202-585-3882. and if you are outside the united states, 202-585-3883. you can catch up with us on all of your favorite social media sites. or you can e-mail us, journal@c- span.org. i want to star
. as the president subsequently yesterday, the debt ceiling essentially must not be used as a weapon. it essentially takes on an is the basic full faith and credit of the united states of america. the president has made so clear what would be at stake if that were to happen. i just believe that it is so critical that that not occurred. you know, i have been through these battles for many decades. i don't remember anyone essentially saying we should go over the cliff. the consequences would be, i think, shamanic and potentially cataclysmic. for the republicans that say let's do it, i think i would be a mistake with foreseeable consequences. the federal reserve has said the responsible physician is we should not forget. >> the president says he's not going to talk about the debt ceiling, speaker boehner said it can be done unless we cut spending at the same time. what are the odds of avoiding going over the fiscal cliff given where both parties are. >> they are going with the american economy and the global economy. closer you get to the fiscal cliff, i think the less likely it is that the u.s. will b
's in south carolina. and this headline in the aiken standard -- then, on the debt ceiling debate, the ways and means chairman has announced there will be hearings on this on january 22. they will be taking a look and that. also in the newspapers this morning, here's the "washington times with this headline -- " he will be our guest coming up, the top democrat on the ways and means committee in the house. later, we will talk to the chairman of the house judiciary committee, representative goodlatte, on the washington journal this morning as well. two members of congress. continuing with the debt ceiling, the financial times this morning reports -- on the nomination of chuck hagel, a former nebraskahe ka senator.m he won the support of two key members. his opposition so far has come almost entirely from fellow republicans. those are some of the headlines this morning in the papers. back to our question, do you support executive action on gun- control measures? now to an independent caller. caller: hi. i just wonder if there are any human beings left. the underlying issue has very little to d
Search Results 0 to 27 of about 28 (some duplicates have been removed)